The future of mobile business depends on finding ways to combine wireless technologies and the Internet. To be successful, these applications must use the most convenient features of both wireless and Internet technologies. In about 300 words, outline a revenue model for a business that sells frequently updated restaurant reviews. Be specific about which parts of the business would use wireless technologies and which parts would use Internet technologies.© BrainMass Inc. brainmass.com October 25, 2018, 1:20 am ad1c9bdddf
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Anna Liza Gaspar
First, a revenue model is specifies the processes with which an organization can earn and make money by outlining how the business will charge for the products and services it provides to its clients.
Second, the Information Age opened opportunities for organizations to create revenue models in different media such as the Internet and the mobile phone. The most predominant revenue model has been the ...
This solution provides answers to questions regarding wireless and Internet technologies.
Information Technology in Business Management: For Your Comfort (FYC)
For Your Comfort (FYC), an ergonomic furniture manufacturing company was a dream founded by Ronald J. Dirksen and Richard Woodart in 1947, the year after World War II ended. War veterans were returning home and wanted to lead a life of material comfort; FYC's trademark Easy Couch was a seller! The company expanded its line of furniture into both residential and commercial office furniture but remained largely a small-town family-owned boutique for many years. In the early 1980s, FYC introduced "mail-order" selling which increased its revenues substantially. FYC gained gradual recognition with its introduction of an "ergonomically friendly" office and home furniture line in the late 1980s and opened 2 branches in different cities during the decade. It also started sourcing timber from Canada and South East Asia and some hardware, hinges, saws, and fasteners from China. The 1990s saw FYC branch out to new territories by owning and operating branch stores. There are currently 16 stores throughout the USA with the manufacturing plant at its base. The biggest store in each city is equipped with a clearance floor, which holds items that are rejects, used returns, or items that are simply out of style but are marked down consistently until they are sold. In 1999, Ronald J. Dirksen, CEO, passed away, leaving the business to his daughter, Donna Dirksen, a smart Berkeley-educated mechanical engineer.
Donna had several challenging tasks on her hands: sorting out the operations and finances of the company; knowing her employees; riding through the recession of early 2000's; and getting the company out of the red. Before she took over, the company's sales had been slipping, and it even suffered a small loss one year due to increased competition. With Donna at the helm, the company's profitability and product line visibility grew but still functioned in an old-fashioned way. Both fixed and variable costs were very high in comparison to industry averages, and Donna had some concerns: high paper-based transaction volume; delayed processes (especially in invoicing and collections); expensive overhead costs in managing different locations (franchisees and employees), internal departments, ineffective marketing campaigns; and lack of latest technology (old POS systems and applications).
Donna, who is quite technologically savvy, has analyzed many furniture and other retail organizations which have shown remarkable profitability through a well-managed technologically-upgraded IS strategy. She wants to invest in new technologies and a sound IT strategy aligned with FYC's business to turn the company around. She has hired you as the IT leader in the organization who will spearhead the alignment of IT and business goals; capitalize on the latest emerging technologies, e-business, and IT management; and harness that information to aid corporate growth.
Details: You have finally convinced the ECM of the advantages of an e-commerce website. Now all you need to do is prepare a brief business plan to outline your model, strategy, and processes for their approval.
Donna wants the e-commerce portal to sell all its furniture line with regular prices as well as clearance items. She gives you a free hand in any other models you may choose: P2P, C2C, etc. The target audience is the same as the main store customer demographics (employed, professionals/families, young professionals starting out in their careers, shoppers, home furnishings shoppers). The only caveat is that the customers must be Internet-savvy and familiar with shopping on the Internet; that gives us the age group 21-55 years with the target customer demographics. Debbie feels there can be many business models combined in the same portal.
Deliver a brief formal business plan.
There is no need to give costs and budgets. Use phase resources for help with a business plan.
Introduction: Online furniture e-commerce industry: General trends, competition, and site map for FYC's ecommerce portal.
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